392 CPW Towers

Used to live at 382 CPW many years ago. Big impersonal buildings with over 400 apartments, multiple entrances in the back of the buildings, could be a security issue. Large public housing project on 100th Street.

Good location, close to Central Park with large apartments, good light and many with balconies and great Central Park views. I believe the buildings on the CPW are best, 372 and 400.

392 is okay if you are facing the garden/parking lot. I went to look at apartment at 382. Each time I went, the hallways smelled foul.

we went to see an apt today @ 392 CPW- smelly , old building , didn't like it at all , even apt had CP view

The reasons to buy in this complex were always that it was one of very few Condos (as opposed to Coops) at the time and that the prices were extremely reasonable. It seems like neither of those is the case any longer.

One other reason to buy is the cheap maintenance/taxes due to the size of the buildings. where else can you get a 2 bedroom, 2 bath with balcony for maintenance and taxes of about $1,300 a month or a 1 bedroom with balcony for under a $1,000 a month in maintenance and taxes. It's all about tradeoffs.

It's not just the size of the buildings, it's also how long ago they went condo.

I believe they had a J51 that will expire in a few years.

what do you guys think of the J51 abatement on this building? Will this impact the low carrying costs and thus the values of the units as it comes close to expiration?